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An Axiomatization of the Serial Cost-Sharing Method

Yves Sprumont
Econometrica 2010 78(5), 1711-1748
We offer an axiomatization of the serial cost-sharing method of Friedman and Moulin (1999). The key property in our axiom system is Group Demand Monotonicity, asking that when a group of agents raise their demands, not all of them should pay less.